QualityDipStocks / Technology · Software
Veeva Systems VEEV
Not in a dip by our rules: 3% below its 52-week high.
A quality company trading near our fair value estimate, 9% over its Market Value.
- Fair value est.
- $290.55−7%
- Market Value
- $286.46price +9%
- Off 52-wk high
- −3%
- Risk vs market
- Lowbeta 0.55
5 bullish · 3 bearish See why
Key levels
Every level vs today’s $312.96
- 52-wk lowlowest close, 1 year$151.43−51.6%
- Market Valueavg paid since Aug 26$286.46−8.5%
- Fair value est.base case$290.55−7.2%
- PriceFri Oct 30 close$312.96you are here
- 52-wk highhighest close, 1 year$323.04+3.2%
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 14.0% ±2 points. Bear = 10.5% and 12.0%; bull = 8.5% and 16.0% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price sits inside the range.
What the price implies To be worth today’s price, VEEV’s free cash flow would need to grow about 15% a year for five years; our estimate uses 14%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much VEEV moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves much less than the market, but its own price swings are 3.4× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.55
- Volatility
- 43% vs 13% SPY
- Correlation SPY
- 0.16
- Correlation QQQ
- 0.09
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
ProfitabilityOperating margin widened to 28.7% in FY2026 from 18.2% in FY2024 (SEC filings).
GrowthDiluted EPS grew 26% to $5.44 in FY2026.
GrowthSales grew 17% to $3.5B over the last 12 months vs the 12 months before (SEC filings).
ProfitabilityGross margin widened to 75.5% in FY2026 from 71.3% in FY2024 (SEC filings).
QualityPasses all four of our quality checks: cash generation, returns on capital, growth and balance sheet.
Top bearish points 3 of 5
ValuationP/E of 50.9× vs a 33.9× median for the 138 Technology companies we cover.
ProfitabilityReturn on equity of 14%, below the 19% median for the 146 Technology companies we cover.
ValuationTrades 9.2% above its Market Value of $286.46, the average price paid since the Aug 26 filing.
Who’s talking about it
Notable investors, executives, analysts and public figures on Veeva Systems in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in Software
All fundamentals
P/E 50.9 · ROE 14% · Sales +17%
Valuation
- P/E
- 50.9×3-yr-end avg 52.0× · Technology median 33.9×
- Price / FCF
- n/anot reported in its SEC filings
- FCF yield
- n/anot reported in its SEC filings
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 14.94×
- Price / book
- 6.95×
- Market cap
- $51.7Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $3.5B
- Sales growth, 12 months
- +16.5%vs the 12 months before
- Sales growth, 3 yrs
- +14.0%/yrfrom FY2023
- Diluted EPS, 12 months
- $6.10
- EPS growth, last FY
- +25.9%
- Net income, 12 months
- $1.0B
- Net income growth
- +25%12 months vs before
Profitability
- Gross margin
- 75.0%
- Operating margin
- 29.9%
- Net margin
- 29.3%
- FCF margin
- n/anot reported in its SEC filings
- Return on equity
- 14%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- $7.2B
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- n/ainterest expense not tagged in SEC data
Cash flow & returns
- Free cash flow, 12 months
- n/anot reported in its SEC filings
- FCF growth, 12 months
- n/anot reported in its SEC filings
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- $643M1.2% of market cap
- Share count, 1 year
- −1.6%diluted shares vs a year ago
- Stock-based comp
- $495M
Trailing 12 months to Jul 31, 2026; balance sheet at Jul 31, 2026. From Veeva Systems’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
DCF $290.55 · MV $286.46 · FCF value $260.28
Assumes 14.0% growth for 5 years (revenue grew 14.0% a year FY23–FY26), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $9.93 a share (trailing 12 months to Jul 31, 2026), from the 10-Q filed Aug 27, 2026. Capex: capitalized software and equipment (the only capital line).
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only arm once a company is in a dip.
Momentum & 52-week range
RSI 61 · 5 days −3.1%
The business
FCF $1.7B · Sales +18%
- Free cash flow, 12 months$1.7B
- Free-cash-flow yield3.3%
- Free-cash-flow margin48%
- Gross margin75%
- Operating margin30%
- Return on invested capital11%
- Return on equity14%
- Sales growth (latest quarter vs year-ago quarter)+18%
- Net debt / EBITDA−1.5×
Next report
Nov 19
- DateThu Nov 19
- Consensus EPS$1.68
- Year-ago EPS$1.42
- QuarterOct/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
Get a text when VEEV fires a reversal signal
One text when a published rule fires on VEEV or any of the 333 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.